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The price of gold has dropped by Rs 600 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 138, 600 per tola today. It was traded at Rs 139, 200 per tola on Wednesday.

Similarly, tejabi gold is being traded at Rs 137, 950 per tola. It was traded at Rs 138, 550 per tola.

Meanwhile, the silver is being traded at Rs 1,725 per tola today.

The third Round of Foreign Office Consultations (FOC) between Nepal and Bangladesh was held in Kathmandu on Wednesday. Foreign Secretary Sewa Lamsal led the Nepali delegation while Foreign Secretary (Senior Secretary) Masud Bin Momen led the Bangladeshi delegation.   

The two sides discussed regional issues of mutual interest, underscoring the need to revitalize SAARC and strengthen BIMSTEC for the promotion of regional cooperation. They agreed to cooperate at various multilateral forums, especially at the UN, for pursuing common interests, especially in the areas of LDC graduation, poverty alleviation, climate change, and safety and security of migrant workers.

They discussed all major issues of mutual interest and agreed to promote cooperation encompassing all sectors, especially trade and commerce, transit and connectivity, power and energy, tourism, culture and education, the Ministry of Foreign Affairs stated in a press release.

Both foreign secretaries emphasized the operationalization of the BBIN MVA framework to contribute to the individual country’s economy not only by expanding trade and connectivity, but also by creating more opportunities to promote people-to-people contacts.

Foreign Secretary Lamsal highlighted the need to tap full potential in economic, cultural and educational sectors through a meaningful collaborative partnership between the two neighbors by involving their private sectors. 

Nepal would like to enhance trade and investment cooperation with Bangladesh, Lamsal said and asked Bangladesh to explore investment opportunities in Nepal, including in the hydropower sector. Furthermore, she requested the Government of Bangladesh to eliminate the Other Duties and Charges (ODCs) levied on Nepali products being exported to Bangladesh. Lamsal also emphasized the exchange of visits at different levels.

Foreign Secretary Momen stressed the need for an early conclusion of a power agreement between Bangladesh, India and Nepal to enable his country to import power from Nepal. He thanked the Government of Nepal for allocating land for the construction of a monastery in Lumbini, expressing hope that it would turn out to be a milestone in bilateral relations.

Checkpoints in Sudurpaschim Province bordering with India will remain closed till April 19 evening.

The border crossings - Jhulaghat of Baitadi, Pulghat of Darchula, Gaddachauki and Brahmadev of Kanchanpur - have remained closed since Tuesday evening.

Chief District Officer of Baitadi, Bhimkant Sharma, said the checkpoints were closed in view of Lok Sabha election taking place in India.

The election is taking place in Uttarakhand and Champawat in India on April 19. The movement along the checkpoints has been completely prohibited during the period due to security sensitivity, he added.

The checkpoints were closed in coordination with Indian officials.

Finance Minister Barsha Man Pun last night held separate meetings with World Bank (WB) Group Vice Presidents Akihiko Nishio (Development Finance) and Guangzhe Chen (Infrastructure) at the Washington DC-based WB Headquarters.

According to the Minister's Secretariat, the minister thanked Akihiko Nishio for entertaining Nepal's proposal to organize a meeting of the International Development Association (IDA-21) under the World Bank Group in Kathmandu in the coming June.

He also met with Riccardo Puliti, International Finance Corporation (IFC) regional vice president for Asia and the Pacific.

The finance minister apprised WB Vice President Akihito that preparations for hosting the event are going well in cooperation with the WB Nepal Office in Kathmandu. He also utilized the time to call on the WB to explore further areas of investment in Nepal through concessional loans or grant schemes.

He said that Nepal's latest achievements in the areas of telecommunications, transport, and clean energy are capable of catching global attention.

The minister said that Nepal has adopted the Kathmandu Declaration incorporating a strategic action plan for Green, Resilient, and Inclusive Development (Grid) that was endorsed by the Government of Nepal and its 16 development partners in 2021.  As per the concept of the Declaration, Nepal will be implementing the First Nepal Green, Resilient, and Inclusive Programmatic DPC in the upcoming year.

The minister also acknowledged the WB's initiation to invest in the 1,063-MW upper Arun Semi Reservoir Project and the 635-MW Dudhkoshi Reservoir Project.

Similarly, during his meeting with another Vice President, the minister said Nepal accorded top priority to infrastructure development.  "The Nepal Government focuses on energy, transport and urban infrastructure-centered projects," he said.

He said a roundtable meeting held with the WB's Kathmandu-based officials regarding the financial modality of the Upper Arun and Dudhkosi was productive, expressing his hope of finding a solution for the financial management for the implementations of projects soon.

Stating that both projects are the 'game changer' projects of Nepal, he expressed the belief that their development will enhance the country's capacity of building big infrastructure projects. He shared that they were confident that the finance management of the Upper Arun Hydropower Project would be done within the coming mid-July.

The finance minister informed that works like distribution of compensation to the people affected by the Upper Arun Project, construction of the approach road and land acquisition are in completion phase.

Reiterating that Nepal has ensured the regional market for hydropower, he said an agreement has been reached for exporting 10,000 megawatts power to India in the next 10 years and the process has been forwarded for Bangladesh to buy Nepal's power. 

During the meeting with IFC Vice President Puliti, Finance Minister Pun expressed the belief that collaboration between IFC and Nepal would be further deepened in the coming days. Recalling that Nepal and IFC have five decades long collaboration, he said IFC has invested in Nepal's tourism sector for the first time.

He said the cooperation extended by IFC for Nepal's economic endeavors and for the private sector development through capital management is laudable. He also appealed for increasing the investment areas as well as capital mobilization and technical assistance in the days to come, noting that IFC has been providing assistance in Nepal's tourism, energy, transportation and agriculture sectors.

Minister Pun reiterated that there are better investment opportunities for investment in the information technology sector in the coming days. According to him, Nepal has adopted the policy of welcoming foreign direct investment due to its small economy, which is looking for investment capital.

In the three separate meetings, the finance minister informed that the Third Investment Summit is going to be held on April 28 and 29 in Kathmandu with the goal of increasing the foreign direct investment, adding that high-level participation is expected in it.

Minister Pun left for the USA on Monday to participate in the Joint Spring-time Meeting of the WB and the IMF.

Nepal advanced to the semi-finals of the ACC Premier Cup defeating Saudi Arabia by six wickets in Al Amerat, Oman on Wednesday.

Saudi Arabia set a target of 74 runs against Nepal in the match, reduced to eight overs due to rain. Nepal achieved the target in 7. 2 overs losing four wickets.

Gulsan Jha scored highest unbeaten 32 runs off 19 balls hitting two sixes and two fours.  Similarly, captain Rohi Paudel unbeaten 16 runs off seven balls with one six and one four.

Likewise, Dipendra Singh Airee contributed 17 runs off nine including three boundaries.

Saudi Arabia, who were invited to bat first after losing the toss, scored 73 runs losing seven wickets in the allotted eight overs.

Abdul Waheed scored highest 37 runs for Saudi Arabia. Other batters failed to score in double digits.

Karan KC and Abhinas Bohara took two wickets each for Nepal and Lalit Rajbasni and Pratish GC claimed one wicket each.

Ram Prasad Sapkota has been appointed as the vice chairman of the Nepal Tourism Board. A 368^th meeting of the Board held on April 15 under the chairmanship of Dr Deepal Kafle, Board’s Director and Secretary at the Ministry of Culture, Tourism and Civil Aviation, appointed Sapkota as the vice-chairman of the Board.

A Cabinet meeting held on March 28, 2024 had appointed Sapkota along with Rajendra Lama and Rishi Bhandari as the members of the Board.

Among the Board’s members, there is a provision to appoint the senior as the vice chairman.

Sapkota was appointed as the vice-chairman according to the same provision.

The tenure of the newly appointed vice chairman will be three years.

The Nepal Tourism Board, established for the promotion of Nepal’s tourism sector, is the supreme body of the tourism sector of Nepal.

According to the provision of the Nepal Tourism Board Act 253, one member selected by the Board’s members will be appointed as the vice chairman of the Board from among the Ministry’s secretary, chairman and nominated members.

There is a provision to have an executive committee of 11 people including Director General of the Civil Aviation Authority, Director General of the Immigration Department, Joint Secretary at the Finance Ministry and five members nominated by the government.

Sapkota of Jyamarung, Nilakantha Municipality, Dhading has been active in the tourism business for a long time.

Sapkota, who received an honorary degree from the Word University of France, has received dozens of national and international awards like 'South Asian Youth Tourism Award 2019', 'Surya Nepal Asha Social Entrepreneurship Award 2011' and 'International Sustainable Tourism Inspiring Story Competition 2013' Award and Tourism Man of the Year Award.

Chief of Sudurpaschim Province Nazir Miya has rejected contesting claims for the position of the province’s Chief Minister coming from rival factions of the Nagarik Unmukti Party (NUP).

On Sunday, Laxman Kishor Chaudhary of NUP’s Resham Chaudhary faction approached the province Chief’s Office staking claim for chief ministership, with support from the Nepali Congress and CPN (United Socialist). The day also saw Kailash Chaudhary of NUP’s Ranjita Shrestha faction staking claim for the position, with support from the CPN-UML and the CPN (Maoist Center).

But the province chief was far from impressed and called the contestants to submit their claims again within two days.

In accordance with Article 168 (2) of the Constitution, Miya has given both sides till 5 pm on April 18 to submit their claims for chief ministership, Dirgharaj Bhatta, information officer at the province Chief’s Office, said. 

NUP emerged as a formidable force in Sudurpaschim through the last general elections.  Now, there are fears that an ongoing conflict between Resham Chaudhary and Shrestha—founder and chair of NUP, respectively—may end up destabilizing the five-party ruling coalition at the Center. 

The 54-member Sudurpaschim Provincial Assembly has 18 members from the Congress, 11 from the Maoist Center (including the Speaker), 10 from the UML, nine from NUP, four from CPN (US), one from Rastriya Prajatantra Party and one independent member. Out of nine NUP members, two are from the Resham Chaudhary faction. As things stand, the four-party CPN (US) will have a crucial role in forming a majority government in the province.

Police have arrested All Nepal Football Association (ANFA) Vice-President Dawa Lama on Wednesday.

A team of the Kathmandu Valley Crime Investigation Office apprehended Lama from Kathmandu.

"Lama had been on the run after the High Court Patan convicted him of dealing in narcotics (brown heroin) in 2064 BS. Our team arrested him today," Office spokesperson and Superintendent of Police, Rabindra Regmi, said.